Industries

The BP disaster could put a damper on this year's Oildorado Days in Taft, California. The festival commemorates a legendary oil spill that remains the largest in U.S. history. WSJ's Justin Scheck reports.

But investors put selling pressure on the stock after comments about the speed of the current recovery remaining mixed.

Oil giant Royal Dutch Shell posts higher second-quarter net profit as higher production and lower costs are partly offset by a bigger tax bill.

Citigroup Inc. agrees to pay $75 million as part of a settlement with the Securities and Exchange Commission over charges that it failed to disclose $40 billion in subprime exposure.

The Senate votes narrowly to reject a Democratic effort to close off debate on legislation setting up a $30 billion fund that would help community banks offer loans to small businesses.

SAN FRANCISCO (MarketWatch) -- Freddie Mac said Thursday the 30-year fixed-rate mortgage average again fell to a record low of 4.54% with an average 0.7 point for the week ending July 29. In the previous period, the average was 4.56%, and the year-ago average was 5.25%. "For the sixth week in a row, interest rates on fixed-rate mortgages eased to all-time record lows during a week of mixed housing data reports. The number of local markets experiencing annual increases in home prices appears to be growing," said Frank Nothaft, Freddie Mac chief economist, in a statement. "However, existing home sales in June slowed to an annualized pace of 4.37 million units, the fewest since March. Moreover, although new home sales jumped by almost 24% to 330,000 dwellings, it represented the second slowest rate since 1963," he added.

Livescribe CEO, Jim Marggraff, demonstrates "Echo" a smart pen that can translate languages, solve math problems and record audio. Video courtesy of Fox News.

The Justice Department alleges that the corporate-software giant defrauded the government in connection with a major contract.

Microsoft Corp. Chief Executive Steve Ballmer stresses to Wall Street analysts that the development of tablet computers outfitted with the company's software is "one of the top issues on my mind."

Problems in steering shafts could lead to accidents, company says.

German automotive giant Volkswagen said Thursday its first-half profit surged on strong demand for its models, cost cutting and favorable exchange rate moves.

French car maker's revenue surges 21% driven by successful new models, market-share gains and favorable demand worldwide.

As RadioShack’s second-quarter profit rose 8.6%, the imporance demand for mobile phones and other wireless products shows through.

Jones Apparel Group Inc.'s second-quarter profit almost doubles, helped by lowered inventory and a pick-up in consumer demand for brands such as Nine West, its largest label.

Trian Fund Management, through which activist investor Nelson Peltz has invested in food companies from Wendy’s/Arby’s Group Inc. to H. J. Heinz Co., discloses ownership of a stake of nearly 6.6% in discounter Family Dollar Stores, shares of which touch a 52-week high.

Amgen Inc. reports slightly lower earnings late Thursday, due to various charges and decreased sales of two of its leading products, Enbrel and Aranesp.

Shares in AstraZeneca rise as much as 5% after the drug giant announces a 23% rise in its second-quarter profit.

Some doctors in India swear by the healing qualities of cow urine. Video courtesy of AFP.